American Express (NYSE:AXP) Issues FY24 Earnings Guidance

American Express (NYSE:AXP) issued an update on its FY24 earnings guidance on Friday morning. The company provided EPS guidance of $13.75-$14.05 for the period, compared to the consensus EPS estimate of $13.62. American Express also updated its FY 2024 guidance to 13.750-14.050 EPS.

American Express Price Performance

Shares of AXP stock opened at $285.78 on Friday. American Express has a 12-month low of $140.91 and a 12-month high of $286.36. The firm has a market capitalization of $205.56 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. The firm has a fifty day moving average of $260.49 and a 200-day moving average of $243.43.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.23. The company had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The firm’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.89 EPS. On average, equities research analysts forecast that American Express will post 13.14 earnings per share for the current year.

American Express Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s payout ratio is presently 23.06%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Jefferies Financial Group increased their price target on shares of American Express from $225.00 to $235.00 and gave the company a “hold” rating in a report on Tuesday, July 9th. Hsbc Global Res lowered shares of American Express from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. lowered shares of American Express from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $268.00 to $286.00 in a research report on Monday, October 7th. Keefe, Bruyette & Woods increased their price target on shares of American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Finally, Royal Bank of Canada increased their price target on shares of American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $242.33.

American Express Company Profile

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.